Heritage Financial (NASDAQ:HFWA) PT Raised to $26.00

Heritage Financial (NASDAQ:HFWA - Get Free Report) had its price target lifted by analysts at Stephens from $24.00 to $26.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Stephens' price objective indicates a potential upside of 13.14% from the stock's previous close.

Several other equities research analysts have also recently weighed in on HFWA. Piper Sandler boosted their target price on Heritage Financial from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Monday. Keefe, Bruyette & Woods upped their target price on Heritage Financial from $20.00 to $23.00 and gave the company a "market perform" rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Heritage Financial presently has an average rating of "Hold" and a consensus price target of $25.00.

Heritage Financial Stock Performance

Shares of Heritage Financial stock traded up $0.01 during midday trading on Tuesday, hitting $22.98. The company had a trading volume of 77,961 shares, compared to its average volume of 181,989. Heritage Financial has a 12-month low of $15.94 and a 12-month high of $23.82. The company has a fifty day simple moving average of $21.96 and a 200 day simple moving average of $20.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.61. The stock has a market cap of $792.81 million, a price-to-earnings ratio of 18.21 and a beta of 0.53.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.09). Heritage Financial had a net margin of 14.59% and a return on equity of 7.95%. The firm had revenue of $81.65 million during the quarter, compared to analysts' expectations of $58.17 million. During the same quarter in the previous year, the business posted $0.51 EPS. As a group, analysts predict that Heritage Financial will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its stake in Heritage Financial by 9.4% during the 3rd quarter. New York State Teachers Retirement System now owns 5,796 shares of the financial services provider's stock worth $126,000 after purchasing an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Heritage Financial by 11.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,154 shares of the financial services provider's stock worth $452,000 after buying an additional 2,154 shares in the last quarter. CWM LLC increased its position in shares of Heritage Financial by 17.1% in the third quarter. CWM LLC now owns 3,297 shares of the financial services provider's stock worth $72,000 after purchasing an additional 481 shares during the period. GAMMA Investing LLC increased its position in shares of Heritage Financial by 43.7% in the third quarter. GAMMA Investing LLC now owns 1,975 shares of the financial services provider's stock worth $43,000 after purchasing an additional 601 shares during the period. Finally, SG Americas Securities LLC bought a new position in Heritage Financial in the third quarter valued at about $234,000. Institutional investors and hedge funds own 78.30% of the company's stock.

Heritage Financial Company Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States. It accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.